OpenTable Falls 12% on Barclays' Downgrade
Shares of OpenTable (NASDAQ: OPEN) are seeing increased weakness during Monday's trading session after Barclays downgraded the company to "Equal-weight" from "Overweight".
The downgrade comes after Barclays' checks hint at further weakness in reservations going forward. Barclays also stated that OpenTable could miss consensus revenues for its upcoming second-quarter.
OpenTable provides solution that forms an online network connecting reservation-taking restaurants and people who dine at those restaurants.
Currently, shares of OpenTable are trading down over 11.5% at $39.68 per share.
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